Casdin Capital LLC Acquires 1,600,000 Shares of Prime Medicine, Inc. $PRME

Casdin Capital LLC boosted its holdings in shares of Prime Medicine, Inc. (NASDAQ:PRME) by 102.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,167,175 shares of the company’s stock after purchasing an additional 1,600,000 shares during the quarter. Prime Medicine comprises 1.5% of Casdin Capital LLC’s portfolio, making the stock its 14th biggest holding. Casdin Capital LLC owned 2.35% of Prime Medicine worth $17,546,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PRME. Russell Investments Group Ltd. boosted its stake in Prime Medicine by 1,316.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,827 shares of the company’s stock worth $38,000 after purchasing an additional 6,345 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Prime Medicine during the third quarter valued at approximately $49,000. Sterling Investment Advisors Ltd. purchased a new position in shares of Prime Medicine in the third quarter worth $55,000. Creative Planning bought a new position in shares of Prime Medicine during the second quarter worth $25,000. Finally, Victory Capital Management Inc. bought a new position in shares of Prime Medicine during the third quarter worth $56,000. 70.37% of the stock is owned by hedge funds and other institutional investors.

Prime Medicine Price Performance

Shares of NASDAQ PRME opened at $3.65 on Friday. Prime Medicine, Inc. has a 12-month low of $1.11 and a 12-month high of $6.94. The firm’s 50-day simple moving average is $3.87. The stock has a market cap of $659.01 million, a PE ratio of -2.70 and a beta of 2.56.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PRME shares. Oppenheimer assumed coverage on shares of Prime Medicine in a research note on Thursday. They set an “outperform” rating and a $11.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Prime Medicine in a report on Monday, December 29th. Finally, Lifesci Capital upgraded Prime Medicine to a “strong-buy” rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.75.

Prime Medicine Profile

We are a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, Prime Editors, to address the widest spectrum of diseases by deploying our Prime Editing technology, which we believe is a versatile, precise, efficient and broad gene editing technology. Genetic mutations implicated in disease are diverse and can range from errors of a single base, known as point mutations, to errors that extend beyond a single base, such as insertions, deletions, duplications, or combinations thereof.